The Latest Bpm Industry Statistics Explained
The global Business Process Management (BPM) market grew at a CAGR of around 10% during 2014-2019.
The statistic that the global Business Process Management (BPM) market grew at a Compound Annual Growth Rate (CAGR) of around 10% during the period of 2014 to 2019 indicates a consistent and relatively strong growth trajectory in the industry over those five years. This growth rate suggests that the BPM market experienced an average annual expansion of 10% throughout the specified period, reflecting increasing adoption and investment in BPM solutions by businesses worldwide. Such growth can be attributed to various factors such as the need for process efficiency, automation, and digital transformation across industries, indicating a positive outlook for the BPM market during the specified timeframe.
The market size for BPM software is projected to grow at a Compound Annual Growth Rate (CAGR) of 13.52% from 2021 to 2028.
The statistic indicates that the market size for Business Process Management (BPM) software is expected to experience significant growth over the period from 2021 to 2028, with a projected Compound Annual Growth Rate (CAGR) of 13.52%. This means that the total market value of BPM software is anticipated to increase by an average of 13.52% per year during this time frame. The consistent growth rate suggests a positive trend in demand for BPM software solutions, likely driven by factors such as increasing adoption of digital transformation initiatives by businesses, advancements in technology, and a growing emphasis on improving operational efficiency and productivity.
North America accounted for the highest share of over 30% in the BPM market in 2019.
This statistic indicates that North America held the largest proportion of the Business Process Management (BPM) market in 2019, with a share exceeding 30%. This suggests that North America was a significant player in the global BPM industry during that year, potentially reflecting a high demand for BPM services and solutions in the region. The high share could be influenced by factors such as technological advancements, a robust economy, strong business infrastructure, and high levels of adoption of BPM practices among organizations in North America. This statistic highlights North America’s prominent position in the BPM market and underscores the region’s importance in driving growth and innovation within the industry.
BPM services are expected to account for over 30% of the market share by 2026.
This statistic suggests that Business Process Management (BPM) services are projected to significantly increase their market share, surpassing 30% by the year 2026. This indicates a growing demand for BPM services among businesses looking to streamline their processes, increase efficiency, and enhance overall productivity. The expected rise in market share reflects the increasing recognition of the value that BPM services bring to organizations in terms of optimizing operations and driving digital transformation. Companies offering BPM services are likely to experience heightened demand and growth opportunities as they cater to the evolving needs of businesses in the coming years.
The IT & Telecom sector contributed about 25% to the global BPM market in 2019.
The statistic “The IT & Telecom sector contributed about 25% to the global BPM market in 2019” indicates that the Information Technology (IT) and Telecommunications industry played a significant role in the Business Process Management (BPM) market worldwide during the year 2019. This suggests that one-fourth of the overall market revenue generated from BPM solutions and services came from companies operating in the IT & Telecom sector. The strong presence and contribution of this industry highlight its reliance on BPM tools to streamline operations, enhance efficiency, and improve business processes. Furthermore, it underscores the strategic importance of BPM in helping IT & Telecom companies stay competitive and adapt to evolving market demands.
Asia-Pacific BPM industry is expected to register CAGR of 18.4% during period 2020-2027.
The statistic indicates that the Business Process Management (BPM) industry in the Asia-Pacific region is projected to experience a Compound Annual Growth Rate (CAGR) of 18.4% between the years 2020 and 2027. This suggests a strong and steady growth trend in the BPM sector within the Asia-Pacific region over the specified time frame. Factors driving this growth could include increasing adoption of digital technologies, automation, and outsourcing of business processes by organizations in the region, potentially leading to enhanced efficiency, cost savings, and improved operational performance. This forecast highlights the significant opportunities and potential for expansion within the BPM industry in the Asia-Pacific region in the coming years.
The process improvement segment occupied a significant BPM market share of over 30% in 2020.
The statistic indicates that the process improvement segment was a dominant contributor to the Business Process Management (BPM) market in 2020, holding a substantial market share of over 30%. This suggests that organizations were particularly focused on enhancing and optimizing their business processes during that time, likely in response to economic challenges, technological advancements, or competitive pressures. The significant market share indicates that businesses recognized the importance of process improvement initiatives in driving efficiency, productivity, and overall performance. It also implies a growing demand for BPM solutions and services tailored to streamlining and enhancing business processes for better outcomes.
FinancesOnline reports that 93% of businesses consider process automation to be a key driver to their success.
The statistic that FinancesOnline reports 93% of businesses consider process automation to be a key driver to their success highlights the widespread recognition among businesses of the importance of leveraging automation in their operations. Process automation refers to using technology to streamline and optimize repetitive tasks and workflows in various business functions. The high percentage of businesses that view automation as crucial to their success suggests that organizations are increasingly realizing the benefits of efficiency, productivity, cost savings, and improved accuracy that automation can bring. This statistic indicates a growing trend towards embracing automation as an essential strategy for achieving competitive advantages and driving overall success in today’s business landscape.
McKinsey revealed that 45% of the activities that employees are paid to perform can be automated.
The statistic “McKinsey revealed that 45% of the activities that employees are paid to perform can be automated” suggests that nearly half of the tasks performed by employees across various industries can potentially be replaced with automation technologies. This finding indicates the significant impact that automation could have on the workforce in terms of efficiency and productivity. By leveraging automation for these activities, companies could potentially reduce costs, improve accuracy, and free up employees to focus on more strategic and creative tasks. However, it also raises important questions about the potential implications for employment and the need for reskilling and upskilling the workforce to adapt to a more automated future.
According to a report by IBM, companies with BPM implementations earn 2.6 times more revenue per employee.
The statistic, as reported by IBM, suggests that companies that have implemented Business Process Management (BPM) strategies are able to generate significantly more revenue per employee compared to those that have not implemented such strategies. Specifically, the statistic indicates that companies with BPM implementations earn on average 2.6 times more revenue per employee. This finding highlights the potential impact of BPM practices on enhancing organizational efficiency, productivity, and ultimately financial performance. By optimizing business processes through BPM methodologies, companies may be able to better streamline operations, improve decision-making, enhance customer satisfaction, and drive revenue growth, ultimately leading to a more profitable and sustainable business model.
It’s estimated that 80% of all business processes are unstructured and not easily noticeable.
The statistic suggesting that 80% of all business processes are unstructured and not easily noticeable highlights the significant portion of organizational activities that are informal, ad hoc, or not explicitly defined. This suggests that a large proportion of work within businesses occurs in a less predictable and more chaotic manner, which can make it challenging for organizations to effectively manage, analyze, and optimize these processes. By acknowledging the prevalence of unstructured business processes, companies can focus on improving their understanding, documentation, and alignment to enhance efficiency, productivity, and decision-making within their operations.
G2.com survey reveals that $6.7 billion were spent on process automation in 2020.
The statistic from G2.com indicating that $6.7 billion were spent on process automation in 2020 highlights the substantial investment companies made in implementing automation technologies to enhance efficiency and productivity. Process automation involves the use of technology to streamline repetitive tasks and workflows, reducing manual effort and potential errors. The significant amount spent on process automation reflects the growing trend among businesses to embrace digital transformation and leverage automation tools to stay competitive in a rapidly evolving marketplace. This statistic underscores the importance of automation in modern business operations and signals a shift towards increased reliance on technology to drive organizational growth and innovation.
Statistica reported that more than 80% of business could make at least 20% more profit with process automation.
The statistic mentioned indicates that according to Statistica, over 80% of businesses have the potential to increase their profits by at least 20% by implementing process automation. This suggests that a significant majority of businesses are not fully utilizing automation technologies to streamline their operations and increase efficiency, ultimately leaving potential profits on the table. By automating processes such as data entry, workflow management, and customer interactions, businesses can save time and resources, reduce errors, and improve overall productivity, leading to higher profitability. This statistic underscores the importance of embracing automation technologies to enhance business performance and unlock untapped revenue opportunities.
15% of businesses are starting their journey in digital transformation and bpm automation.
The statistic that 15% of businesses are starting their journey in digital transformation and business process management (BPM) automation indicates a noticeable shift towards adopting technology-driven strategies for enhancing operational efficiency and competitiveness. This suggests that a growing number of businesses are recognizing the importance of embracing digital tools and automation processes to streamline their operations, improve customer experience, and drive innovation. The data implies that businesses are increasingly leveraging technology to stay relevant in today’s rapidly evolving digital landscape and are actively investing in initiatives to digitize their operations and workflows for long-term success and growth.
Juniper Research highlighted that $132 billion is estimated to be saved by insurers through automation by 2024.
The statistic provided by Juniper Research suggests that insurers stand to save a significant amount of money through the implementation of automation technologies by the year 2024. The estimated savings of $132 billion indicate the potential cost reductions and efficiencies that can be achieved by automating various processes within the insurance industry. This could include automation of claims processing, customer service interactions, underwriting decisions, and other operational tasks. By leveraging automation technologies, insurers can streamline their operations, reduce manual errors, increase productivity, and ultimately realize substantial cost savings, as highlighted in the research findings.
According to Mordor Intelligence, the Middle East and Africa BPM markets are expected to achieve a CAGR of 14.4% between 2020 and 2025.
This statistic indicates that the Middle East and Africa Business Process Management (BPM) markets are projected to experience a Compound Annual Growth Rate (CAGR) of 14.4% from 2020 to 2025, as reported by Mordor Intelligence. This growth rate suggests a strong and consistent upward trend in the adoption and utilization of BPM solutions and services within the region over the next five years. Such a substantial growth rate signals potential opportunities for businesses operating in the BPM sector to expand their market presence and capitalize on the increasing demand for process optimization and automation solutions in the Middle East and Africa.
References
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